2 Accounts You NEED To Build Up To Retire Early

Considering an early retirement but not sure if you can make it work? Schedule a complimentary consultation with us at www.sparkwealthadvisors.com/c...
The key to an early retirement is making your money last a lot longer than a traditional retirement calls for.
And since traditional retirement accounts like IRAs and 401ks have penalties before age 59.5, those penalties can cut down what's available for living expenses.
In this video, Jake discusses 2 investment accounts you need to build up and use for those years before you can tap into your designated retirement accounts.
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0:40 Tax-Advantaged Accounts
1:07 • 5 Ways to Access Retir...
1:30 Account #1 - Advantages
3:15 Account #1 - Disadvantages
4:17 Account #1 - Early Retirement Use Cases
6:11 Account #2 - Advantages
7:13 Account #2 - Disadvantages
8:17 Account #2 - Early Retirement Use Cases
9:15 Conclusion
*This content is educational and not tax, legal, or investment advice*

[@SparkWealthAdvisors]

Are you using these accounts for your early retirement plan? Why or why not?

[@savvyfreelancer4553]

Another potential downside to taxable brokerage accounts (that no one talks about) is the fact that they can be raided in the event that the owner is sued or if the owner needs to file for bankruptcy. It could probably also make the owner ineligible for public benefits such as SSI. 401k's and IRA's offer more protections against lawsuits and bankruptcy than taxable brokerage accounts I believe.

[@SparkWealthAdvisors]

Excellent points! Umbrella or liability insurance could help in those situations. You are correct in that IRAs and 401(k)s offer more protection by default. Thanks for your comment!

[@fdamdrmt]

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